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The Canadian dollar weakened 0.6% to 1.3595 per US dollar on Friday, its largest one-month decline, as investors cut bets on another Bank of Canada hike after GDP contracted 0.2% annualized in the second quarter. Growth was expected to be flat in July.
Weaker Canadian growth and reduced rate-hike expectations weaken the CAD, which can lower the US-dollar cost of Canadian exports for buyers.
reuters.comSep 1, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
